508 W State St Madison, IN 47250
Property details
About 508 W State St
Unlock the potential of this versatile property on Madison's Hilltop! Whether you're looking for a residential home, a commercial space, or a combination of both, this prime location offers endless possibilities. The main level is currently set up as an apartment, featuring a cozy living room, kitchen, dining area, bedroom, full bath, and utility room. Upstairs, you'll find two additional rooms—perfect for bedrooms or office space—along with a second full bath. The area beneath the home provides convenient storage or space for a golf cart. Situated in a high-traffic area, this property is an excellent investment opportunity. Inspections are welcome, but the property is being sold as-is. Don't miss your chance—schedule a showing today! The apartment is occupied by a tenant and requires 24 hour notice for showings. Property recently appraised and priced accordingly. Tenant pay $800 plus 50% of utilities which averages $120/mo.
Highlights
Summary
- Full Bathrooms: 2
- Basement: No
- Total Bedroom Count: 3
- Garage Space: 1 space
- Attached Garage: Yes
- Parking: Attached, Driveway
- Heating: Forced Air, Natural Gas
- Cooling: Central Air
- List Price: $159,900
- Price/SqFt: $133
- Annual Tax Amount: $1,258
- Tax Year: 2023
- Directions: From Main Street head North onto Cragmont Street. In 1.7 miles make a left at the 4-way stop. The property will be located immediately to your right.
- Year Built: 1974
- Stories: 1
- Living Area: 1,200 SqFt
- Lot Size: 0.07 Acres
- MLS Number: 1680983
- MLS Name: Metro Search (Greater Louisville Association of REALTORS®)
- Office Name: EXP Realty LLC
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Metro Search, Inc. Real estate listings held by other Brokerage firms are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. The Broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2025 Metro Search, Inc. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/22/2025, 12:50:32 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$159,900
508 W State St
$1,899
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $62,900 | $1,258 |
| 2021 | $62,300 | $1,944 |
| 2020 | $97,200 | $- |
| 2018 | $93,000 | $- |
| 2017 | $91,700 | $- |
History based on county public records data.
Nearby schools
4
Anderson Elementary School
Public District PK-4
0.7 mi
•2325 Cherry Dr
7
Lydia Middleton Elementary School
Public District PK-4
1.7 mi
•714 W Main St
6
Rykers' Ridge Elementary School
Public District PK-4
3.6 mi
•2485 N Rykers Ridge Rd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $42,011. Typical income of Madison, IN residents is between $35k-100k annually. Residents typically live in single, no kids family. Residents of this area typically have post secondary degree education.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Figure Skating
NASCAR
Extreme Sports
Where do the neighbors shop?
Kmart
Dollar General
Stein Mart
Where do the neighbors go to eat?
Bob Evans
Cracker Barrel
Little Caesars
What do the neighbors drive?
Buick
Ram
Chevrolet
What do the neighbors listen to?
Oldies
Classic Country
Adult Standards
Frequently asked questions
About 508 W State St
The listing price of 508 W State St property is $159,900.
The property 508 W State St is a house located in Madison, Indiana, 47250.
Active Listing: 508 W State St is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 508 W State St are: Anderson Elementary School (GreatSchools Rating 4/10), Lydia Middleton Elementary School (GreatSchools Rating 7/10), Rykers' Ridge Elementary School (GreatSchools Rating 6/10), Madison Consolidated Jr High School (GreatSchools Rating 5/10), Southwestern Middle School (GreatSchools Rating 3/10), Carroll County Middle School (GreatSchools Rating 3/10), Madison Consolidated High School (GreatSchools Rating 5/10), Southwestern High School (GreatSchools Rating 4/10), Trimble County Jr/Sr High School (GreatSchools Rating 4/10).
According to the records, the last property tax for 2023 is $1,258 (source: MLS/based on county public records data).
The property at 508 W State St has 3 bedrooms and 2 bathrooms.
The property 508 W State St is 1,200 SqFt (source: MLS/tax record).
The year of construction for 508 W State St is 1974.
This home is located at 508 W State St in Madison, IN and zip code 47250. This 1,200 square foot home, which was built in 1974, sits on a 0.07 acre lot. Features: 3 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since March 3, 2025 and is currently priced at $159,900.
Madison, IN housing market in April 2025 saw over 0 listings sold above listed price, more than 1 sold at listed price and over 0 sold below. In April 2025 in Madison, IN there were 27.3% less homes for sale than in March.